Comparison of Bybit vs Pointpay [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Bybit vs Pointpay comparison!

Your expert: Alejandro Borja

Bybit

Your expert: Xavier Tarrasó

Pointpay

Main points

Fees

≤0,10%

Earns

Yes

Customer service

4/5

0.05%

Fees

Yes

Earns

3/5

Customer service

Recommended for

Beginners

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Comparison of fees

Rating

4.1 – Low fees with a focus on derivatives trading.

3.9 – Reasonable fees with additional benefits for crypto banking.

Level

≤0,10%

0.05%

Brief explanation

Bybit’s commission structure is designed to be competitive and appealing to both high-volume traders and occasional participants. The platform primarily charges two types of fees: maker fees and taker fees. The maker fee can reward users for adding liquidity to the market, typically set below the industry average, while the taker fee is slightly higher due to the nature of removing liquidity. For trading derivatives such as perpetual contracts, Bybit charges a taker fee of 0.075% and provides a maker rebate of 0.025%, which means makers actually earn a credit for executing trades. This fee structure is particularly attractive to those who trade frequently or utilize trading bots to maintain liquidity on the exchange. Overall, Bybit’s fee strategy supports a dynamic trading environment, encouraging both the provision and taking of liquidity while keeping costs transparent and manageable for traders of all levels.

PointPay’s commission structure is designed to be competitive and accessible for traders of all levels. The platform primarily operates on a flat fee model for trading, charging fees that are generally considered lower than the industry average. For instance, PointPay charges a trading fee of 0.05% for both makers and takers, which is appealing because it is below the typical rates found at many other exchanges. This low fee structure is particularly advantageous for active traders who perform frequent transactions, as it helps to keep trading costs down and maximize potential profits. Moreover, the absence of different fees for makers and takers simplifies the trading process, making it easier for beginners to understand and calculate their trading costs upfront without surprises.

Bybit

Security Methods: Bybit employs robust security practices, including cold storage for digital assets, real-time risk audits, and two-factor authentication (2FA) to protect user accounts and funds. This comprehensive approach ensures a secure trading environment.
Reputation and Reviews: Since its inception, Bybit has maintained a strong reputation within the crypto community for its reliability, advanced trading features, and user-friendly interface. Positive reviews across various forums and its low incident of security breaches contribute to its credibility.
Trading Volume and Liquidity: Bybit is known for its deep liquidity and high trading volume, facilitating seamless execution of trades without significant slippage, even during volatile market conditions. This is crucial for traders looking to execute large orders.
Transparency: Bybit provides clear and detailed information on trading fees, funding rates, and insurance funds. It regularly publishes updates about system upgrades and security enhancements, demonstrating transparency in operations and communications with its users.
Customer Service: Bybit offers 24/7 customer support with a multilingual team accessible via live chat, email, and social media. This constant availability ensures that user queries and issues are resolved promptly, enhancing user trust and satisfaction.

Pointpay

Regulation Compliance: PointPay operates under the cryptocurrency laws of the UK and Estonia, providing a regulated environment which enhances user trust and security.
Security Features: The platform employs robust security measures, including two-factor authentication and encrypted communication, to protect user data and funds.
Reputation and Reviews: Since its launch, PointPay has maintained a positive reputation in the cryptocurrency community, supported by favorable user reviews that often highlight its reliability and user-friendly interface.
Customer Service: PointPay offers comprehensive customer support with multiple channels including live chat, ensuring users can get assistance whenever needed.
Innovative Financial Products: The integration of various financial services such as a crypto bank, a multi-currency wallet, and options for crypto-backed loans provides users with a versatile and comprehensive trading and banking experience.

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Account Minimum

Get started with just $100.

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Direct link to the website

Product selection

Native token

Earns

Yes

NFT marketplace

Yes

Cripto/debit card

Yes

Full name

Bybit Fintech Limited

Point Pay Ltd.

Regulation

Not regulated

Year founded

2018

Founder

Ben Zhou

Andrey Svyatov

Payment methods

Transfers

Mastercard

Yes

Wire transfer

Card

Yes

Comparative table

Bybit	FEATURES	Pointpay
Bybit allows for a relatively low minimum trade size, making it accessible for traders starting with smaller amounts.	Minimum Trade	PointPay allows users to start trading with relatively low minimums, making it accessible for beginners.
Bybit is known for its competitive fee structure, which is lower than many other exchanges, benefiting frequent traders.	Trading and Transaction Fees	PointPay offers competitive trading fees which are lower than many other platforms, making it cost-effective for traders.
Offers a diverse range of over 100 cryptocurrencies, providing good options for traders looking to diversify their portfolios.	Number of Cryptocurrencies	While PointPay supports popular cryptocurrencies, its range is narrower compared to larger exchanges. More variety could enhance trading opportunities.
Provides a wide array of trading pairs, allowing users to trade various combinations of cryptocurrencies efficiently.	Crypto-to-Crypto Trading Pairs	The platform provides several trading pairs, but the selection is less extensive than what is found on more established exchanges.
The website provides clear and detailed information about trading conditions, fees, and security measures.	Website Transparency	PointPay maintains high transparency regarding fees, services, and operational procedures, which helps built trust among users.
Bybit does not offer a branded exchange card for in-store purchases or benefits, limiting its functionality in terms of everyday financial transactions.	Credit/Debit Card	This absence could be a significant drawback for users who seek the convenience of directly spending their crypto holdings in a traditional manner, such as through point-of-sale transactions or online shopping using a card linked directly to their cryptocurrency accounts.
Offers secure storage solutions with a majority of funds kept in cold storage, though it lacks some advanced features found in specialized wallets.	Storage Offering	PointPay offers secure storage solutions, including a multi-currency wallet that supports various cryptocurrencies.
Offers basic staking features but is not as competitive as other platforms that provide higher yields and more variety in staking options.	Staking and Rewards	The platform offers staking options, but the benefits and yields are less competitive compared to leading platforms focused on staking.
Both the mobile app and desktop platform are highly rated for user interface design and functionality, catering well to both beginner and advanced traders.	Mobile App and Desktop	PointPay provides both mobile and desktop applications that are user-friendly and feature-rich, though some users may find the mobile app lacks certain advanced features.
Provides 24/7 customer support with multiple channels, though response times can vary depending on the channel and query complexity.	Customer Service	PointPay has a responsive customer service team accessible through multiple channels, although response times can vary during peak times.
Offers efficient deposit and withdrawal processes, though limited by the lack of direct fiat currency transaction support.	Deposit and Withdraw	Deposits and withdrawals are handled efficiently, but the options for fiat transactions are limited, which could be inconvenient for some users.

Key features

Analysis tools

Advanced charting, technical analysis tools, and derivatives trading features

Basic charting tools

Mobile APP

Yes

Security

High 4,9/5

High 4,6/5

Additional features

Futures trading, perpetual contracts, staking, Bybit Earn program

Crypto banking, staking, PointPay token (PXP) rewards

Anonymity

Yes

Key points

Available cryptocurrencies

Primarily derivatives, but around 100 cryptocurrencies

50+

User-friendliness

Bybit offers a user-friendly platform that is easy to navigate, with a focus on derivatives trading. The interface is designed to be accessible to both beginners and experienced traders.

PointPay features an intuitive and user-friendly interface that is easy to navigate, making it suitable for beginners. The platform focuses on providing a seamless trading experience.

Value for money

Offers good value for money with low trading fees and advanced trading features, suitable for both retail and institutional traders.

Delivers reasonable value for money with competitive fees and a user-friendly interface, though it may lack some advanced features.

Countries of operation

Singapore, Japan, South Korea, United States, Canada

United States, Canada, United Kingdom, Australia, Singapore

Best for

Great for both retail and institutional traders interested in derivatives trading with low fees and advanced features.

Best for traders seeking a user-friendly platform with competitive fees and a wide range of supported cryptocurrencies.

Base currencies available

USD, USDT, BTC

USD, BTC

Account

Trading

Bybit is known for its derivatives trading and leverage options. It offers advanced trading tools and high liquidity but is not suitable for beginners due to its complexity and risk.

PointPay provides a secure platform with a decent range of cryptocurrencies and competitive fees. It offers additional services like staking and loans but lacks advanced trading tools.

Deposit and withdrawal

Bybit supports cryptocurrency deposits and withdrawals, with no support for fiat currencies. Withdrawals are processed efficiently, usually within a few hours, with low fees.

PointPay supports various deposit and withdrawal methods, including bank transfers and crypto. Withdrawals are processed efficiently, with low fees.

Account opening process

Bybit offers a seamless and fully digital account opening process. Users need to fill out personal information and verify their identity. The process is quick, typically taking less than a day to complete.

PointPay offers an easy and quick account registration process. Users need to provide personal details and verify their identity. The process is fully digital and typically takes less than a day to complete.

KYC required?

Yes

Customer Service

Bybit provides extensive customer support through email, live chat, and a help center. Support is available 24/7, and the response times are quick, ensuring users get timely assistance.

PointPay offers support through email and live chat. The response time is quick, but the support team is not available 24/7, which may be a drawback for some users.

Security

Bybit provides robust security features with 2FA, encryption, and cold storage. However, it is not regulated by major financial authorities, which might be a concern for some users.

PointPay ensures security through 2FA, encryption, and cold storage. Despite its strong security measures, the platform is not regulated by top-tier financial authorities, which could be a concern for some investors.

Which of these exchanges is for you?

Alejandro Borja

As one of the experts here at Threenvest, I’d like to share a brief recommendation about using Bybit. Bybit offers a robust platform that caters well to experienced traders looking for advanced trading options in the crypto derivatives market. Its high-performance trading engine ensures rapid execution of trades, which is crucial during volatile market conditions. If you’re comfortable with high leverage and complex trading instruments, Bybit can be a powerful tool in your trading arsenal. However, beginners should tread carefully, given the platform’s complexity and the inherent risks of leveraged trading.

Xavier Tarrasó

As a cryptocurrency analyst who has extensively reviewed various platforms, I highly recommend PointPay for both newcomers and seasoned traders. Its all-in-one platform is especially beneficial for users looking to manage multiple crypto activities from a single account. The ease of use, combined with robust security measures and a regulated environment, makes PointPay a trustworthy choice. Whether you’re interested in trading, staking, or simply managing a diverse portfolio, PointPay offers a user-friendly and comprehensive solution that caters to all your cryptocurrency needs.

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How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.